Ramco Systems Q4 net loss widens to Rs.18.01 crores

Ramco Systems Ltd has announced the financial results for the quarter & year ended March 31, 2007. The Unaudited results for the Quarter ended March 31, 2007 are as follows: The Company has posted a net loss of Rs 180.175 million for the quarter ended March 31, 2007 where as the same was net loss at Rs 38.248 million for the quarter ended March 31, 2006. Total Income is Rs 202.084 million for the quarter ended March 31, 2007 where as the same was at Rs 351.717 million for the quarter ended March 31, 2006.

The Audited results for the Year ended March 31, 2007 are as follows: The Company has posted a net loss of Rs 322.033 million for the year ended March 31, 2007 where as the same was net loss at Rs 340.682 million for the year ended March 31, 2006. Total Income is Rs 868.674 million for the year ended March 31, 2007 where as the same was at Rs 1218.008 million for the year ended March 31, 2006.

The Unaudited Global Consolidated Financial Results (under AS 21) for the Quarter ended March 31, 2007 (In US$) are as follows: The Group has posted a net loss of US$ 3.28 million for the quarter ended March 31, 2007 where as the same was net profit at US$ 0.58 million for the quarter ended March 31, 2006. Total Income is US$ 16.46 million for the quarter ended March 31, 2007 where as the same was at US$ 17.62 million for the quarter ended March 31, 2006.

The Audited Global Consolidated Financial Results (under AS 21) for the Year ended March 31, 2007 are as follows: The Group has posted a net loss of Rs 376.845 million (US$ 8.37 million) for the year ended March 31, 2007 where as the same was net loss at Rs 236.647 million (US$ 5.37 million) for the year ended March 31, 2006. Total Income is Rs 2720.188 million (US$ 60.41 million) for the year ended March 31, 2007 where as the same was at Rs 2648.645 million (US$ 60.08 million) for the year ended March 31, 2006.

Consequent to the sale of Secure Converged Networking (SCN) division of the Company to its wholly owned subsidiary, Ramco Infotech Solutions Ltd (RITS) with effect from April 01, 2006, the above results as well as the segment reporting results given below, for the quarter and for the year ended March 31, 2007, reflect the performance of the Company excluding the SCN division. In view of this, the said results for the previous period / year are not comparable with the figures for the current period / year. However, the unaudited global consolidated results under AS-21 include the results pertaining to the same.

Further the Company has informed that, the Board of Directors of the Company has not recommended any dividend for the year 2006-2007.

Source : Equity Bulls

Keywords